Fast-growing life insurer, FBNInsurance limited, has confirmed its continuous growth amongst the comity of insurers by bagging the prestigious ‘A+’ credit rating from the foremost research and credit ratings company, Agusto & Co.

In the final rating report, the credit ratings company acknowledged FBNInsurance as a “financial institution with satisfactory financial condition and adequate capacity to meet its obligations as and when they fall due.” The report states further that: “the rating reflects its (FBNInsurance’s) strong capitalization, good profitability, moderate exposure to underwriting risk, good cash flow and liquidity as well as an experienced management team.”

Industry watchers believe that while the company’s affiliation to FBNHoldings has helped her business development and risk management initiatives, her association with the Sanlam Group (SA) on the other hand has clearly aided the insurer’s technical capabilities thereby making it a vibrant business concern. This much was acknowledged by her recent announcement as the 2018 AIO/AfricaRe Insurance Company of the Year in Accra, Ghana.

It will be recalled that FBNInsurance has consistently been rated A+ for the past three years. With a growing retail network of over 2000 retail sales agents operating from 42 sales outlets and 3 branch offices nationwide, the company is poised to increase her market share with unique product offerings and a commitment to customer relationship.

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August 8th, 2018

…as Company Board supports pregnant women with an ultrasound scan machine.

In line with her Corporate Responsibility and Sustainability initiatives, leading life insurer, FBNInsurance, recently donated a dialysis machine to the Gbagada General Hospital, Renal Dialysis centre. The donation was the second of its kind to the hospital from the company.

At the official commissioning held in the premises of the Lagos hospital, the Chairperson, FBNInsurance, Mrs Adenrele Kehinde, feted the validity of the human life, reiterating that every human deserves to lead a good life. “We believe every human life is important and that every man deserves a better shot at life, no matter their health challenges. We hope, therefore, that this new machine will complement the initial one donated and that more people will have another shot at life, thanks to FBNInsurance,” she said.

Also, at a separate presentation, the Chairperson announced the donation of an ultrasound scan machine to the Maternity ward of the hospital, courtesy of the combined personal efforts of the members of the Board of FBNInsurance. “As much as we try to ensure every human being enjoys the very best of health, we should also not forget the mothers who deliver these lives. The wellbeing of pregnant women should be a priority for all of us, this is why the members of the Board of FBNInsurance made personal commitments to the donation of this ultrasound scan machine for the good of mankind and the betterment of humanity,” Adenrele said at the commissioning.

In his remarks, the Medical Director, Gbagada General Hospital, Dr Lateef Lawal, thanked FBNInsurance for their continuous benevolence and commitment to the hospital. He informed the gathering that the first dialysis machine, donated by FBNInsurance during the company’s 5th anniversary celebrations in 2015, had addressed the medical needs of 1,717 patients from November 2015 to December 2017.

Since inception, FBNInsurance has consistently demonstrated her commitment to the Nigerian consumer. The company has initiated/supported various humanitarian activities including a cervical/breast cancer awareness campaign, various back-to-school projects, scholarships and various community development projects nationwide.

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May 30th, 2018

As part of her corporate drive to motivate outstanding staff and increase performance in terms of policy uptake, sales persistency and new business, FBNInsurance recently rewarded winners in her annual MD/CEO Ember Championship.

In a press statement released by Elizabeth Agugoh, Head, Marketing and Corporate Communications, the MD/CEO Ember Championships was designed to push new premiums and increase persistency between September and December every year. “We know how hard it is to get people to buy insurance, especially as the year ends. So to encourage sales and get new businesses, this competition was set up to reward the Sales Area that meets certain sales criteria during this period,” she said.

At the award presentation which held recently, the Benin Sales Area won the best performing Area for the period under review. The winning Area was given a cash reward for its effort. Enugu and Aba Areas came second and third respectively.

Val Ojumah, MD/CEO, FBNInsurance, commended the winning Area and charged them to do more so as to retain the trophy next year. He promised to continue to give them adequate support to ensure they meet their sales target.

FBNInsurance operates a robust retail structure of over 2,000 retail agents operating out of 42 sales outlets nationwide.

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May 30th, 2018

In line with their Corporate Responsibility and Sustainability initiatives, sister insurers, FBNInsurance and FBN General Insurance, recently donated various items to two care homes, the Down Syndrome Foundation and Heritage Homes.

The companies donated various food items, toys and beverages to Heritage Homes; while they made a cash donation to the management of Down Syndrome Foundation. Most of the items donated were largely raised through the companies’ annual Staff Gift drive, an in-house scheme that encourages members of staff of both companies to donate various items to a common cause.

At the presentation ceremonies, the Chief Human Resources Officer, FBNInsurance, Mr. Emeka Dibia, conveyed the insurers’ goodwill to both organizations while appreciating their efforts towards making the society better. He charged them not to relent on the good they are doing and also restated the commitment of the FBNInsurance Group to the cause of both the orphanage and the Foundation.

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May 30th, 2018

Fast growing Life Insurer, FBNInsurance, has been named the Insurance Company of the Year at the recently concluded 45th AfricaRe/African Insurance Organisation (AIO) conference in Accra, Ghana.

Established in 1972, AIO seeks to promote inter-African co-operation in insurance and to develop a healthy insurance and reinsurance industry in Africa. Their annual awards recognize outstanding firms and individuals who have made remarkable contribution to the African insurance industry. While acknowledging the company’s rapid growth, the organisers referenced the average growth of 57.36% in premium income over the last three years, 58.6% of net profit and 43% of shareholders’ funds. Figures from the company’s recently released audited statement revealed the company recorded a 98% growth on her year-on-year premium and a 37% increase in her profit before tax over the full financial year.

Commenting on the latest award, Managing Director/Chief Executive Officer, FBNInsurance, Val Ojumah, thanked the organisers for maintaining its status as a credible organisation over the years and dedicated the award to the owners, FBNHoldings and Sanlam SA, the Board, Management and Staff of his company. “The AIO Awards remains one of the most sought after on the African continent for many reasons. We are honoured to win the prestigious Insurance Company of the Year award as this strengthens our position as the fastest growing insurance company in Nigeria and a thriving business on the continent. It is also another confirmation that our corporate strategy works.”

Incorporated eight years ago, FBNInsurance has defied the odds to become one of the leading life insurers in Nigeria’s sceptical market. With a robust agency structure boasting over 2000 sales agents, the company has consistently delivered on its strategic objectives by offering responsive insurance products to the Nigerian market. The AfricaRe/AIO Insurance Company of the Year 2018 is the company’s third major award in the past one year. Recall that the company had earlier this year won the Sanlam Emerging Market (SEM) Cup of Nations and the 2017 World Finance Best Life Insurance Company Award.

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May 30th, 2018
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